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Jun 02 - 01:55 AM

GBP/USD - Firmer - USD Is Off Its Lows - Weak UK Data

By Andrew Spencer  —  Jun 01 - 11:49 PM

• Up 0.15% in a 1.3457-1.3505 range with the USD under pressure on tariff news

• U.S. copper +3.55% on the tariffs - Brent oil +2.65% after OPEC+ as expected

• High energy costs threaten UK manufacturing's future, industry warns

• Trade war, labour costs herald the weakest UK outlook since 2022, CBI

• There is no tier one UK data today, so the U.S. dollar will likely lead GBP

• Charts- 10, & 21-day moving averages rise, negative momentum studies

• 21-day Bollinger bands gently climb - the positive setup survives

• Wednesday's 1.3522 high, then last week's 1.3593 2025 top initial resistance

• Last week's 1.3417 low then the 1.3377 21 DMA are the first supports
Andy


(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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